EX-99.1 3 ex99-1.htm Exhibit 99.1

In re  Farmland Industries, Inc

 

Case No. 02-50557

         A Missouri Corporation

 

 

 

 

 

 

 

 

 

MONTHLY OPERATING REPORT SUMMARY

FOR THE MONTH OF AUGUST, 2003

REVENUE

Gross Income

 $       125,225,098.57 

Less Cost of Goods Sold

 $       103,873,069.13 

Materials

 $      103,390,174.29 

Direct Labor

Overhead  (Freight and Other)

 $             482,894.84 

Gross Profit

 $     21,352,029.44 

OPERATING EXPENSES

Owner/Officer-Draws/Salaries

 $                             -  

Other Employee Salaries

 $          3,195,202.97 

Advertising and Marketing

 $                    735.28 

Insurance

 $             711,514.78 

Payroll Taxes

 $             263,016.78 

Lease and Rent

 $          1,205,963.48 

Telephone and Utlities

 $          3,485,561.38 

Attorney and other Professional Fees

 $          3,033,220.67 

UST Quarterly Fees

 $                             -  

Other Expenses (includes other income)

 $      (81,966,489.70)

Total Operating Expenses

 $     (70,071,274.36)

Net Income (Loss)

 $       91,423,303.80 

CURRENT ASSETS

Accounts Receivable at end of month  (Does not include Intercompany)

 $          54,734,524.06 

Increase (Decrease) in AR for month

 $          12,503,147.85 

Inventory at end of month

 $        120,030,623.83 

Increase (Decrease) in Inventory for month

 $          (2,523,051.97)

Cash at end of the month

 $        241,387,284.30 

Increase (Decrease) in Cash for month

 $        244,130,937.10 

LIABILITIES

Increase (Decrease) in pre-petition debt

 $        (12,269,296.76)

Increase (Decrease) in post-petition debt

 $          (4,005,933.15)

Taxes Payable:

Federal Payroll Taxes

 $           (182,584.61)

State Payroll Taxes

 $             (30,918.24)

Local Payroll Taxes

 $                  (473.42)

State Sales Taxes

 $           (269,970.05)

Real Estate and Personal

 $           (633,012.87)

Property Taxes  (Real Property)

 $        (1,264,223.26)

Other (see footnote 1)

 $        (1,781,707.80)

Total Taxes Payable

 $         (4,162,890.25)

 

Footnote 1

PRE-Fed MTR FUEL TAX-IC & SUBS (248001)

 $              (5,663.77)

PRE-ST MTR FUEL TAX PAY (248101)

 $                           -  

PRE-FED ENVIRON TAX PAY (249001)

 $                           -  

USE TAX PAYABLE-AUTOMATIC FROM TAX PACK

 $                           -  

USE TAX PAYABLE-AUTOMATIC FROM TAX PACK

 $                           -  

USE TAX PAYABLE-MANUAL ENTRIES

 $          (136,193.26)

FED HWY USE TAX PAY

 $                           -  

FED MTR FUEL TAX-EST LIAB

 $       (1,639,850.77)

ST MTR FUEL TAX PAY

 $                           -  

PRE-USE TAX PAY-MANUAL (245002&12)

 $                           -  

 $       (1,781,707.80)